Exercise 8-3 (Algo) Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $234,000; land improvements are appraised at $104,000; and the building is appraised at $182,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value * Total Cost of Acquisition = Apportioned Cost Land Land improvements Building Totals Required 1 Required 2 > Required 1 Required 2 Prepare the journal entry to record the purchase. (Round your answers to 2 decimal places.) View transaction list Journal entry worksheet Record the costs of lump-sum purchase. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal